World steel prices continue to slip but rate of decline has slowed

There are no positive signals in the US flat products market. Demand remains in a trough with raw steel output now running at well under 50 percent of capacity – down at 42 percent in early April. Distributors are not buying. They are refusing to reorder until they can see some sign of a pick-up in consumption. Inventory holes are appearing but they are not being filled. Imports are clearly on the decline with licence applications well down…..more at MEPS